if we not consider the 2 invoices in 3B for the month of august , but considered in gst 1 . tax liability will arise , so if we pay the tax in month of december I.e in month of filling gstr 1 , so what about interest liability? ????
interest is calculated from which period and how to setoff gst liability????
17 Replies
Divakar
(Student CA Final )
(11857 Points)
Replied 28 December 2017
Interest is calculated from respective gstr3b due date till the date of set off.... Mere depositing the tax is not sufficient.... In Gstr3 ur final liability can be set off... Wait for that
Divakar
(Student CA Final )
(11857 Points)
Replied 28 December 2017
U can consider it in next month Gstr3B and set off in that gstr3b
Divakar
(Student CA Final )
(11857 Points)
Replied 28 December 2017
They claim itc by gstr3b and not by gstr2.... That is only provisional itc... Itc settled only in gstr3 finally... U should show it in next month Gstr3B
Divakar
(Student CA Final )
(11857 Points)
Replied 28 December 2017
Now every person taking itc just on provisional basis... When supplier file their GSTR1 and it comes in buyer Gstr2.... Then only in gstr3 it will final.... Reconciliation is being done by filing GSTR1 and gstr2 by the department
sweetyjain
(assistant)
(227 Points)
Replied 28 December 2017
but as per invoice date liability will arise in august month ... which
settled only through payment.
settled only through payment.
Divakar
(Student CA Final )
(11857 Points)
Replied 28 December 2017
But u hv not taken in August month Gstr3B... Then u show it in next month Gstr3B and pay tax and setoff that... But in gstr1 u take it in August month only.... When u show it in next month Gstr3B then u hv to pay only one month interest in gstr3.... Otherwise from the due date to filing of gstr3... Mere depositing tax is not sufficient until u set off it... Hope now u will understand what i am trying to say
prasad patro
(Accountant)
(98 Points)
Replied 28 December 2017
Divakar, as per ur last reply if one outward invoice I forgot to considers in Gstr3b of august month, than I take in next month gstr3b. If I do this how I have to pay one month interest.please give
Divakar
(Student CA Final )
(11857 Points)
Replied 28 December 2017
U should pay tax for August invoice by 20th September gstr3b last date... But u consider it in next month Gstr3B and pay tax upto or setoff upto 20th October... Then 20 September to 20 October... How many days came???
sweetyjain
(assistant)
(227 Points)
Replied 28 December 2017
Gstr3b upto the month of nov is already filed and invoice are not considred till date??
Divakar
(Student CA Final )
(11857 Points)
Replied 28 December 2017
Hmm i know... U should hv consider it in next month Gstr3B that's what i am trying to say... Now consider it in December month Gstr3B... U hv already consider in gstr1... So now wait for gstr3 and then pay final liability
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